LIG Nex1 reported results that exceeded market expectations, leading to a rise in its stock price.
LIG Nex1 shares traded at 250,500 won on the KOSPI market at 9:35 a.m. on the 4th. The stock price increased by 9.87% (22,500 won) compared to the previous day.
LIG Nex1's strong performance is believed to have boosted investor sentiment. LIG Nex1 disclosed its fourth-quarter results for last year (October-December) after the market closed the previous day. Preliminary figures showed consolidated sales of 1.1687 trillion won and operating profit of 62.8 billion won, which were 35% and 19% higher than market expectations, respectively.
Analysts predict that LIG Nex1 will continue its growth this year. Lee Dong-hun, a research analyst at Shinhan Investment Corp., noted, "This year, LIG Nex1 is expected to sustain its growth, as the proportion of projects in Indonesia, which yield lower profits, will decrease, and exports to regions with relatively higher profits will expand."
He added, "Expectations for exports of the U.S. Stinger (2.75-inch diameter guided missile) and projects related to robots and drones could also serve as momentum for the stock price increase."